Islamabad, February 17, 2025: Prime Minister Muhammad Shehbaz Sharif on Monday lauded the World Bank’s (WB) significant role in supporting Pakistan’s development, citing the successful completion of several key projects through their cooperation, which have played an instrumental part in the country’s progress.
During a meeting with a delegation of World Bank Executive Directors, the Prime Minister expressed gratitude for the long-standing partnership between Pakistan and the World Bank, which spans over seven decades. He noted that the World Bank had been a major contributor to the country’s development, especially in the aftermath of the 2022 floods, providing substantial assistance to those affected.
The meeting was attended by several ministers, including Ahsan Iqbal, Ahad Khan Cheema, Sardar Owais Khan Leghari, Dr. Musadik Malik, as well as Ministers of State Ali Pervaiz Malik and Shaza Fatima Khawaja, among others.
Prime Minister Shehbaz Sharif highlighted that the recent Country Partnership Framework with the World Bank includes a remarkable $40 billion investment in Pakistan. This funding is expected to play a pivotal role in shaping the country’s future, with $20 billion earmarked for projects in health, education, youth development, and other social sectors.
He added that an additional $20 billion investment through the International Finance Corporation (IFC) would stimulate growth in Pakistan’s private sector, further bolstering the nation’s economic prospects. The Prime Minister expressed confidence that these investments would mark the beginning of a new era of progress for Pakistan.
The Prime Minister also acknowledged the trust the World Bank had shown in the government’s policies, particularly in the areas of institutional and economic reform. He emphasized that Pakistan’s economic trajectory was moving towards growth, thanks to the hard work of the government’s economic team.
“Pakistan’s economy is on the right path,” he said, adding that exports and remittances were on the rise, and the reduction in interest rates was fostering investment in the production sector. He also highlighted ongoing efforts to introduce greater transparency in government systems to combat corruption.
Furthermore, the Prime Minister underscored that the government’s focus on digitization, particularly in Federal Board of Revenue (FBR) reforms, as well as power sector reforms, would ensure better service delivery and reduced losses. He noted that the Special Investment Facilitation Council (SIFC) had created a favorable environment for investment through a collaborative system involving all stakeholders.
The delegation members praised the government’s progress on its reform initiatives, acknowledging the positive outcomes being felt across various sectors. They particularly commended the effective implementation of reforms in energy, industry, exports, privatization, and revenue generation. They also recognized the swift pace of economic reforms under the leadership of Prime Minister Shehbaz Sharif.
The World Bank Executive Directors’ nine-member delegation, which is currently visiting Pakistan, is overseeing the portfolios of various countries within the World Bank. During their visit, they will continue discussions on economic development projects and explore new investment opportunities in Pakistan.
